UBS Group Begins Coverage on Pagaya Technologies (NASDAQ:PGY)

Stock analysts at UBS Group began coverage on shares of Pagaya Technologies (NASDAQ:PGY) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $11.00 price target on the stock. UBS Group’s target price indicates a potential upside of 22.91% from the company’s current price.

Several other equities analysts have also issued reports on PGY. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. B. Riley reduced their price objective on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Oppenheimer began coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price on the stock. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Pagaya Technologies Stock Up 2.8 %

PGY opened at $8.95 on Friday. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company’s 50-day moving average is $10.76 and its 200 day moving average is $12.03. The firm has a market capitalization of $659.22 million, a P/E ratio of -3.52 and a beta of 6.11.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari sold 150,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the transaction, the insider now directly owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This trade represents a 48.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 7,659 shares of Pagaya Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.00, for a total value of $91,908.00. Following the completion of the transaction, the insider now owns 65,857 shares of the company’s stock, valued at approximately $790,284. This trade represents a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock worth $2,755,982 over the last quarter. Corporate insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. Tidal Investments LLC lifted its stake in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after purchasing an additional 1,826 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Pagaya Technologies by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after buying an additional 1,937 shares during the period. BNP Paribas Financial Markets grew its position in Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after buying an additional 3,181 shares in the last quarter. nVerses Capital LLC bought a new position in Pagaya Technologies in the 2nd quarter worth about $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $101,000. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.